Rice Prices Surge Throughout Q1 2023, Hitting a New Record High

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Adi Ahdiat 04/04/2023 11:20 WIB

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Rice prices in Indonesia have been rising since August 2022, reaching a new record high in March 2023.

National Average Rice Price per Month (March 2018-March 2023)

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Rice Prices Surge Throughout Q1 2023, Hitting a New Record High

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National Average Rice Price per Month (March 2018-March 2023)

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Based on data from the Ministry of Trade's Market and Basic Needs Monitoring System (SP2KP), rice prices in Indonesia continued to rise throughout the first quarter of 2023.

The increase in rice prices has actually been ongoing for eight consecutive months since August 2022, as shown in the graph.

By March 2023, the national average price of premium rice reached Rp13,713 per kilogram (kg).

This price is up 1.4% compared to February 2023 (month-on-month/mom), up 10.6% compared to March 2022 (year-on-year/yoy), and represents a new five-year high.

Medium-quality rice also saw price increases. In March 2023, the national average price of medium-quality rice reached Rp11,869 per kg. The price increased by 1.4% (mom), rose by 14.1% (yoy), and is the highest price since 2018.

"We haven't been able to lower the price of rice until today. In fact, it tends to increase, and the increase isn't small; it's more than Rp1,000. Even though the data shows that we have a large surplus (of rice)," said Trade Minister Zulkifli Hasan in a meeting with Commission VI of the DPR, as reported by *Katadata* on Tuesday, March 28, 2023.

Here are the 10 provinces with the highest average premium rice prices in March 2023:

1. West Sumatra: Rp16,048 per kg
2. South Kalimantan: Rp15,686 per kg
3. Central Kalimantan: Rp15,671 per kg
4. North Maluku: Rp15,283 per kg
5. Papua: Rp15,267 per kg
6. Maluku: Rp14,819 per kg
7. West Kalimantan: Rp14,752 per kg
8. Riau: Rp14,679 per kg
9. North Kalimantan: Rp14,500 per kg
10. East Nusa Tenggara: Rp14,474 per kg

Here are the 10 provinces with the highest average medium rice prices in March 2023:

1. West Sumatra: Rp13,943 per kg
2. West Papua: Rp13,914 per kg
3. South Kalimantan: Rp13,902 per kg
4. North Kalimantan: Rp13,619 per kg
5. Maluku: Rp13,307 per kg
6. Central Sulawesi: Rp13,119 per kg
7. Central Kalimantan: Rp13,079 per kg
8. Papua: Rp12,898 per kg
9. Gorontalo: Rp12,840 per kg
10. North Sumatra: Rp12,471 per kg

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Rice Prices Surge Throughout Q1 2023, Hitting a New Record High

Rice Prices Surge Throughout Q1 2023, Hitting a New Record High

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